NuFund Venture Group, one of the nation’s largest and most active early-stage investor networks, has announced the launch of its new Austin Cluster. This expansion into the Texas Market represents the next step in NuFund’s mission to build thriving startup ecosystems beyond its Southern California roots.

NuFund sees Austin as a central hub for innovation, offering many opportunities for startups and investors alike. And the Austin Cluster aims to create stronger ties between Southern California and the growing startup scene in Texas, further amplifying NuFund’s efforts to support emerging companies across various industries.

NuFund’s record of success includes over 55 exits since 2005, investments in over 100 companies, and a commitment to backing high-impact ventures that drive innovation and economic growth. The group has continuously evolved its model to effectively support founders and investors, using a systematic approach to deal flow, portfolio health, and support processes.

To start its entry into the Austin market, NuFund recently organized a founders & funders virtual showcase with Austin Next and other ecosystem builders’ participation. It subsequently co-hosted an event with global VC Antler, attracting over 50 investors, founders, and startup stakeholders. And the strong turnout reflected the excitement and potential within Austin’s entrepreneurial community, highlighting the city’s vibrant startup culture and laying the groundwork for future collaborations. NuFund is eager to contribute to and grow alongside this ecosystem.

KEY QUOTES:

“We are thrilled to be expanding into Austin, a city bursting with energy, creativity, and entrepreneurial spirit. Our goal is to bridge the gap between Southern California and Austin’s vibrant startup scene, providing founders access to the strategic guidance, capital, and expansive network they need to succeed. By working closely with local investors and partners like Antler, we’re excited to make a lasting impact on the ATX startup community.”

-Serhat Pala, President of NuFund Venture Group

“NuFund’s decision to establish an Austin presence reflects our confidence in its rapidly growing innovation ecosystem. There is tremendous potential here in Austin and we’re committed to supporting founders and fostering relationships that drive growth, both for local startups and the broader community.”

-James Burkett, who is leading NuFund’s efforts on the ground

It’s not every day that Dua Lipa rolls through a two-stepping dance hall in Austin, Texas. But when Austin City Limits Music Festival takes place, anything can happen.

On Monday, ACL Festival headliner Dua Lipa revealed on Instagram that she had a honky-tonk of a good time exploring ATX during Weekend 1, including a night out at the Broken Spoke.

In a call with LoneStarLive.com, Michael Peacock, the general manager of the Broken Spoke, said Dua Lipa “was super nice” during her late-night visit to the dance hall.

According to Peacock, the Broken Spoke had been expecting a “high-end client” thanks to a call from the concierge at the hotel Dua Lipa was staying at for her Weekend 1 performance at ACL Fest.

The dance hall was asked to reserve a few tables, Peacock revealed, but when it got to be 11:30 p.m., staffers started to give up hope that a famous face would walk through the door.

But around midnight, in walked Dua Lipa and her crew, which Peacock said included her sister.

“We just talked about England,” Peacock said of his interaction with Dua Lipa. “She was great.”

Those who know the ins and outs of the Capital City’s bar scene were quick to recognize the setting of Dua Lipa’s post on social media as the Broken Spoke, an iconic dance hall in South Austin.

But one thing people were unable to pinpoint was whether the man with the incredible mustache that she was seen in a few videos two-stepping with knew he was dancing with the “Houdini” singer.

As it turns out, the man — who Peacock said is a regular who hadn’t been to the dance hall in a while but happened to show up that night — probably didn’t know he was dancing with Dua Lipa. But then again, he said most people who were there at that time didn’t know it was the Grammy-winning music artist.

While Peacock didn’t reveal the mysterious man’s identity, he did say that he was “the perfect choice” for Dua Lipa to two-step with because “he’s very outgoing.”

Broken Spoke might see Dua Lipa again during Weekend 2 of ACL Fest

Peacock — who is married to Ginny White-Peacock, the daughter of the Broken Spoke’s late founder James White — also noted that Dua Lipa’s night at the dance hall has been beneficial for the business.

“All of this publicity has been great,” Peacock said, noting that up until her visit, “it’s been really quiet.”

It’s possible the singer will return this weekend, as the caption of her Instagram post from the Broken Spoke reads, “HONKY TONK HEAVEN!! AUSTIN SEE YOU AGAIN NEXT SATURDAY!!!”

Though Dua Lipa might be referring to her second headlining set at ACL Fest on Saturday, Oct. 12, the best way to find out if she’ll return to the Broken Spoke is by visiting the dance hall this weekend.

The Broken Spoke is located at 3201 S. Lamar Blvd. in Austin, Texas, and is open from 4 p.m. to midnight Tuesday through Thursday; 4 p.m. to 1:30 a.m. Friday and Saturday; and closed on Sunday and Monday.

This news comes on the heels of securing an additional US$50 million in capital through its Regulation A fundraise, marking a significant step in the company’s rapid expansion and continued development of sustainable lithium extraction technology and next-generation solid-state battery technology.

Founded less than 6 years ago by entrepreneur Teague Egan, EnergyX’s growth has turned heads in the lithium and battery industry. The company initially developed proprietary Direct Lithium Extraction (DLE) technology, which goes by the LiTAS™ moniker. This evolved into a suite of technologies allowing EnergyX to complete an end-to-end extraction and refinery process to produce battery grade lithium materials.

A further strategic pivot saw the company start acquiring its own lithium mines in 2023, following multiple strong pilot plant results in North and South America. The move positioned EnergyX to emerge as a major player in the projected US$134 billion lithium industry by 2035.

EnergyX’s impressive technology can recover 300% more lithium than conventional methods, with traditional extraction typically yielding only 30% to 40% of lithium from brine, whereas EnergyX’s DLE achieves a 90%+ extraction rate. The technology gained traction and recognition within the industry, raising over US$110 million total in investments, and being backed by major investors including General Motors, Eni, and POSCO.

With two Tier 1 projects underway – Black Giant in Chile estimated to produce 40 000 tpy of lithium, and Project Lonestar in the US estimated at 25 000 tpy, the company is planning to bring on hundreds of new jobs over the 100-headcount threshold. The new 40 000 ft² mixed-use facility in Austin TX will house EnergyX’s innovation lab, global operations controls, DLE production, and warehouse.

EnergyX CEO Teague Egan commented: “We are thrilled to be adding so many incredible scientists, engineers, and operators to the EnergyX team. While I tried to keep the headcount under 100 for as long as possible, each individual is a major contributor to our execution plans… As we transition from research to commercialisation, the most exciting parts are ahead of us”.

Read the article online at: https://www.globalminingreview.com/mining/08102024/energyx-unveils-new-production-facility-in-austin-texas/